Hi Tom,
just like in the real plane, the bank angle limit selector only has an effect in HDG mode. In VOR/LOC and LNAV bank is always limited to 30 degrees, regardless of the bank angle limiter.
The only way to avoid high bank angle during cruise would be to fly the turns in HDG mode (with the limiter set to 10 deg, maybe), or in manual flight. This sounds a bit like too much trouble, but I flew with a Captain once that made it a habit to always "cut the corner" a bit in HDG mode, fantasizing about how much fuel and time he saves for our company.... One of the toughest skills to master as a First Officer is when to just keep your mouth shut and nod and say "wow, that is a great idea, Captain" - and when to say "I have control! Go-around!"
Jan